05/21/2008
Cuomo and the New York State Workers' Compensation Board SWCB to shore up the group self-insured trust system following a string of failures dating back to 2006. The board has terminated five trusts this year managed by Compensation Risk Managers CRM and is seeking to revoke the license of the
Category: News
05/20/2008
Compensation Risk Mangers at risk of losing its state license over allegations that it badly mismanaged a string of failed group self-insured trusts has agreed to pay a 96110 fine to the New York State Insurance Department in connection with a parallel investigation that concluded CRM
Category: News
05/08/2008
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SWCB this year has terminated five group self-insured trusts run by Compensation Risk Managers CRM of Poughkeepsie N.Y. and has filed administrative charge seeking to revoke CRMs administrative license. The board has scheduled a hearing on the charges later this month.
"We want to make
Category: News
05/06/2008
trusts administered by Compensation Risk Managers CRM this year. It terminated at least six other group self-insured trusts in 2006 and 2007 and is drafting regulations to overhaul the state's system for guaranteeing the claims of workers covered by group self-insured trusts.
Noting warnings from the
Category: News
04/21/2008
license held by Compensation Risk Managers CRM in Poughkeepsie N.Y.
Both companies are subsidiaries of Bermuda-based CRM Holdings which bought Majestic's parent company Embarcadero Insurance Holdings for 46.3 million in November 2006.
SWCB released an extensive list of administrative charges
Category: News
04/18/2008
the attorney general has joined the SWCB in an ongoing investigation of failed trusts managed by Compensation Risk Managers CRM sent stock prices plummeting for Bermuda-based CRM Holdings which owns the Poughkeepsie N.Y. trust manager California-based Majestic Insurance Co. and reinsurer Twin
Category: News
04/17/2008
The New York State Workers' Compensation Board has filed administrative charges seeking to revoke the license of group self-insured trust manager named Compensation Risk Managers CRM based on findings that it understated reserves submitted false reports waylaid an auditor's investigation
Category: News
04/03/2008
director of licensing for the board said Wednesday the agency has determined 2753 employer members were involved in the termination of the trusts all managed by CRM.
The one remaining trust CRM handles in New York State Elite Contractors Trust of New York was identified as "underfunded" in an
Category: News
04/02/2008
The New York State Workers' Compensation Board SWCB has ordered the termination of five group self-insured workers' compensation trusts administered by Compensation Risk Management CRM since the beginning of the year and warned that 22 more trusts operating in the state are underfunded.
In a
Category: News
02/21/2008
CRM Holdings Ltd. on Wednesday announced that it is cutting 34 positions as part of a series of cost-cutting and "realignment measures" affecting its group self insurance subsidiary Compensation Risk Managers.
CRM said in response to market and business conditions that have reduced the volume of
Category: News